Minority and Immigrant Homeownership Experience: Evidence from the 2009 American Housing Survey
AbstractUsing data from the 2009 American Housing Survey and Hazard Model, this paper provides empirical evidence that the homeownership experience during the recent housing boom and housing bust was not homogenous across all groups in the U.S. The recent deterioration of underwriting practices and a boom in mortgage lending did not benefit minorities and immigrant homeownership in the U.S. Blacks experienced significantly lower increase in homeownership than the whites but highest exit from homeownership particularly if they obtained the mortgage during subprime boom period from 2004 - 2006. Hispanics, on the other hand, did not experience significant increase in homeownership and neither did they face a higher exit from homeownership compared to whites. However, Hispanic immigrants were worse off in the recent housing market than Hispanic natives. Immigrants were worse off in the recent housing market than the natives, but naturalized immigrants fared better than the non-naturalized immigrants.
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Bibliographic InfoPaper provided by Department of Economics, Rutgers University, Newark in its series Working Papers Rutgers University, Newark with number 2013-001.
Length: 40 pages
Date of creation: Jan 2013
Date of revision:
Homeownership; Exit; Subprime; Minorities; Immigrants; Citizenship; Hazard Model;
Other versions of this item:
- Mundra, Kusum, 2013. "Minority and Immigrant Homeownership Experience: Evidence from the 2009 American Housing Survey," IZA Discussion Papers 7131, Institute for the Study of Labor (IZA).
- J15 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
- J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
- R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-01-26 (All new papers)
- NEP-MIG-2013-01-26 (Economics of Human Migration)
- NEP-URE-2013-01-26 (Urban & Real Estate Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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